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Whether best judgement can be done by assessing authority totally arbitrarily i.e. based on his guess work?

Dated:- 2-4-2015 - 17 - Assessment No. There are many judgements to support that the assessing authority can not arbitrarily make the best judgement. In the case of Kachwala Gems [2006 (12) TMI 83 - SUPREME COURT], it was held that it is well settled that in a best judgement assessment there is always a certain degree of guess work. No doubt the authorities concerned should try to make an honest and fair estimate of the income even in a best judgment assessment, and should not act totally arbitr .....

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